FKLI stays down after another lower close and it has to close below 1400 to keep bias intact.
Support is now the psychological 1400 and thereafter 1390.
Expect resistance at Aug intraday low of 1427 and thereafter 1447.
The longer term trend is down.
Sentiment stayed downcast as futures was at discount to cash.
The 21 day moving average is now at 1460.
R1/1427 R2/1447 R3/1458
S1/1400 S2/1390 S3/1375
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